Freddie Loan Purchases Pretty Steady in February
Freddie Mac purchased nearly $43 billion in mortgage loans and securities in February, down fractionally from January, the secondary market agency reported Wednesday morning.
During February, $35 billion or 82% of the loans purchased were refinancings.
Freddie Mac also issued $44 billion in MBS in February, down 1.4% from the month prior.
The serious delinquency rate on Freddie’s guaranteed single-family mortgage portfolio slipped five basis points from January to February.
The percentage of single-family loans that are 90 days or more past due fell to 3.15% in February. A year ago, Freddie’s serious delinquency rate was 3.57%.
Meanwhile, the GSE held $542 billion in mortgage assets in its investment portfolio, down 13.5% from a year ago.
The GSE regulator has directed Freddie Mac and Fannie Mae to reduce their mortgage investment portfolios by 15% this calendar year.